KUWAIT: As part of the GB Talks series, Mohammad Bujbarah, Corporate Banking Portfolio Officer at Gulf Bank, outlined the banking services and facilities available to small and medium-sized enterprises (SMEs). These services aim to enhance the continuity, sustainability, growth, and competitive edge of SMEs.
Bujbarah emphasized that Gulf Bank offers a wide range of services and transactions tailored to SMEs, available either directly or through a dedicated online platform. This includes the ability to apply for both cash and non-cash credit facilities, without needing an existing Gulf Bank account. Services available include electronic payroll transfers, ATM card issuance, registration for point-of-sale systems, payment gateways, logistics, consulting services, and more. All of these can be accessed and registered for via the bank’s website.
He explained that clients interested in financing for their SME can visit the bank’s website, go to the SME section, fill out the application on the small and medium-sized business financing solutions page, and submit it. After submission, they will receive an email requesting audited financial statements for the past three years and a recent management report. Following an initial review, the bank will contact the client if the business is deemed economically viable.
Bujbarah also highlighted Gulf Bank’s dedication to improving non-banking services for SMEs, assisting them in operating efficiently without the need to invest in or manage their own warehouses or specialized teams for customs clearance and inventory transport. He stressed that Gulf Bank’s 2025 strategy is centered on supporting SMEs by expanding its range of products and banking services to promote their growth and development. It is important to note that SMEs eligible for Gulf Bank financing are independent businesses with assets approximately valued at KD 500,000, annual sales up to KD 1.5 million, and at least 150 employees.
Gulf Bank aims to be Kuwait’s leading bank, fostering a diverse and inclusive workplace to deliver exceptional customer service while contributing sustainably to the community. Through its extensive branch network and innovative digital services, the bank empowers customers to conduct banking transactions conveniently and efficiently, ensuring a seamless experience. In alignment with Kuwait Vision 2035, "New Kuwait,” and its commitment to fostering collaborative partnerships, Gulf Bank is dedicated to driving robust sustainability initiatives across environmental, social, and governance (ESG) dimensions. The bank is committed to implementing strategically selected and diverse sustainability programs both internally and externally.